M&G Plc Lowers Position in Trimble Inc. (NASDAQ:TRMB)

M&G Plc reduced its position in Trimble Inc. (NASDAQ:TRMB) by 6.0% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 12,015 shares of the scientific and technical instruments company’s stock after selling 771 shares during the quarter. M&G Plc’s holdings in Trimble were worth $745,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also added to or reduced their stakes in the company. Victory Capital Management Inc. increased its stake in Trimble by 1,387.6% in the 2nd quarter. Victory Capital Management Inc. now owns 3,847,921 shares of the scientific and technical instruments company’s stock worth $215,176,000 after purchasing an additional 3,589,249 shares during the period. Thrivent Financial for Lutherans raised its holdings in Trimble by 7.0% in the second quarter. Thrivent Financial for Lutherans now owns 3,647,641 shares of the scientific and technical instruments company’s stock worth $203,976,000 after purchasing an additional 239,673 shares in the last quarter. Impax Asset Management Group plc lifted its position in Trimble by 18.7% during the third quarter. Impax Asset Management Group plc now owns 2,755,576 shares of the scientific and technical instruments company’s stock valued at $169,978,000 after buying an additional 434,065 shares during the period. Lazard Asset Management LLC boosted its holdings in shares of Trimble by 25.4% during the 1st quarter. Lazard Asset Management LLC now owns 2,549,535 shares of the scientific and technical instruments company’s stock valued at $164,087,000 after buying an additional 516,789 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its position in shares of Trimble by 24.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,839,180 shares of the scientific and technical instruments company’s stock worth $102,842,000 after buying an additional 361,421 shares during the period. Hedge funds and other institutional investors own 93.21% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the company. Piper Sandler boosted their target price on Trimble from $73.00 to $84.00 and gave the stock an “overweight” rating in a report on Thursday. Oppenheimer reaffirmed an “outperform” rating and set a $72.00 price target on shares of Trimble in a report on Wednesday, August 7th. JPMorgan Chase & Co. boosted their price objective on shares of Trimble from $66.00 to $74.00 and gave the company a “neutral” rating in a report on Thursday. Robert W. Baird increased their price target on Trimble from $66.00 to $82.00 and gave the company an “outperform” rating in a report on Friday. Finally, StockNews.com cut Trimble from a “buy” rating to a “hold” rating in a research report on Saturday. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, Trimble has an average rating of “Moderate Buy” and a consensus price target of $75.40.

Trimble Price Performance

NASDAQ:TRMB opened at $72.65 on Friday. The firm has a market cap of $17.74 billion, a price-to-earnings ratio of 12.15, a PEG ratio of 3.23 and a beta of 1.49. Trimble Inc. has a one year low of $40.79 and a one year high of $73.17. The firm’s fifty day moving average is $60.46 and its two-hundred day moving average is $57.47. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.88 and a current ratio of 1.16.

Trimble Profile

Trimble Inc provides technology solutions that enable professionals and field mobile workers to enhance or transform their work processes worldwide. The company's Buildings and Infrastructure segment offers field and office software for project design and visualization; systems to guide and control construction equipment; software for 3D design and data sharing; systems to monitor, track, and manage assets, equipment, and workers; software to share and communicate data; program management solutions for construction owners; 3D conceptual design and modeling software; building information modeling software; enterprise resource planning, project management, and project collaboration solutions; integrated site layout and measurement systems; cost estimating, scheduling, and project controls solutions; and applications for sub-contractors and trades.